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EO of the Jamaica Business Development Corporation (JBDC), Valerie Veira is urging Micro, Small & Medium Enterprises (MSME) to engage in cluster activity to generate higher income. She was speaking at a recently held international seminar “Technology transfer to countries in Africa, the Caribbean, the Pacific and Business Support” in Brno, Czech Republic.
According to Ms. Veira, data from the field indicates that the lack of a business plan, access to finance and the ability to export are key obstacles to growth within the MSME sector and clustering is an effective means of solving these issues with the help of government and the private sector. “Clusters are a strategic networking of entities engaged in co-related business activities that are linked horizontally, vertically, diagonally (and sometimes virtually) along the value chain that serve towards enhancing the competitiveness of both the individual entity and the cluster of entities,’ she explained.
